CME appoints lead market maker for fertiliser futures

Chicago Mercantile Exchange (CME ) yesterday said that Agriliance will be the lead market maker for the exchange’s new fertiliser contracts traded on Globex, the exchange’s electronic trading platform. Minnesota-based Agriliance markets crop nutrients, crop protection products, seed and related technical services to farmers and ranchers through local cooperatives and independent retailers across the US, Canada and Mexico.

CME developed the contracts earlier this year with the hope that the futures, and options on futures, will prove popular as a means of protecting the fertiliser industry from fluctuations in the price of natural gas – a vital ingredient in most nitrogen fertilisers.

“Participation from Agriliance as a lead market maker in our fertiliser contracts brings their unique set of agricultural experiences to this highly sophisticated market,” says John Harangody, director of agricultural commodities

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